Talkers Magazine Publisher Talks About the Economic Collapse of iHeart & Cumulus
Tuesday, November 28, 2017
GoLocalWorcester Business Team
Talkers magazine publisher Michael Harrison joins GoLocal LIVE's Business Monday and discusses the massive financial challenges facing two of the three largest radio corporations in America. iHeart, the largest radio corporation who owns WHJJ, WHJY, Coast 93, and B101 in the Providence-market now faces in excess of $20 million and the stock is trading at just $0.85 at close Monday.
Cumulus, the third largest radio group, owns WPRO AM, WPRO FM, Hot 106, and Lite 105, was delisted from the NASDAQ and is now trading at just $0.17 per share at close.
Harrison said both companies face significant financial challenges. He said that both companies could face bankruptcy this year.